Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Investments

Discuss investments with other users on our Investment forum. For more advice read our tips for saving for your child's future.

Buy to let property

1 reply

perimumma · 20/07/2024 08:50

DH bought a buy to let about 20 years ago when he was early 20's. He isn't really making anything on it.

He's reluctant to sell as he's never paid any tax on it and thinks he will get a massive bill.

I have no idea how any of this works. Can anyone explain?

OP posts:
ilovemoney · 20/07/2024 10:18

When did you sell or give away the property? - Calculate your Capital Gains Tax - GOV.UK

He can work out exactly how much capital gains tax he will need to pay and look at any relief he might be entitled to on the gov,uk website.

yes he might get a substantial tax bill but hopefully this will be offset by the amount the property has grown in value and the profit he makes.

When did you sell or give away the property? - Calculate your Capital Gains Tax - GOV.UK

https://www.tax.service.gov.uk/calculate-your-capital-gains/resident/properties/disposal-date

New posts on this thread. Refresh page